Los Angeles Unified School District (LAUSD) Rating Report
Rating Summary
The long-term rating primarily reflects the exceptionally strong security structure supporting repayment of the District’s General Obligation (“G.O.”) Bonds, together with the consistent performance and breadth of the Los Angeles Unified School District’s (“LAUSD” or the “District”) property tax base. Because debt service is secured by an unlimited ad valorem property tax levied on taxable property within the District, KBRA’s analysis places predominant weight on these security features. Accordingly, so long as the District’s underlying credit profile remains within the investment grade category, operating and financial considerations are not primary determinants of the long-term rating.
Security Highlights: (1) The bonds are secured by a statutory lien on ad valorem taxes assessed on all taxable property within the District (“pledged revenues”) pursuant to the State Constitution and other State law; (2) Los Angeles County (“the County”) is statutorily obligated to…
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